If a company converted a short-term note payable into a long-term note payable,this transaction would:

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When a short-term note payable is converted into a long-term note payable, it extends the maturity date of the debt, which increases the time available for the company to repay the debt. This increase in time would have a positive impact on the company's current ratio, which measures the ability of the company to meet its short-term obligations. Additionally, since the company would be able to use the funds for a longer period, it would increase the working capital of the company, which is the difference between current assets and current liabilities. Therefore, the transaction would increase both working capital and the current ratio.

If a Company Converted a Short-Term Note Payable into a Long-Term